Remuneration packages for newly qualified ACA accountants have risen to record levels, according to research from Morgan McKinley.

It found that the average total compensation package offered by investment banking and financial services employers in London is now worth up to £65,000 a year.
ACA qualified product controllers within investment banking can now command an average basic annual salary of £52,000, up 6% on 2005 and 22% on 2003 levels. Average bonus payments are adding a further £13,000 onto pay packets, bringing their total average take home pay to £65,000 per annum. The same upward trend has been seen for those newly qualified ACAs working in financial control and internal audit within investment banks with total compensation packages averaging £58,800 and £54,000 respectively.
The growth pattern in remuneration packages witnessed over the last four years for newly qualified ACA accountants (up to two years experience) has been driven by rising demand from London’s financial institutions in conjunction with reduced levels of availability.